Terra’s Do Kwon loses appeal to block SEC subpoena over Mirror Protocol
Do Kwon, the founder of collapsed Terra (LUNA) ecosystem, has lost an appeal attempting to block the honouring of subpoenas by the Securities Exchange Commission (SEC) over an ongoing investigation into the Mirror Protocol.
The U.S. Second Circuit rejected the appeal arguing that SEC had followed the correct procedure in serving Kwon with the subpoenas, court documents published on June 8 indicate. The four-judge bench upheld the lower court’s decisions noting that the regulatory agency complied with federal rules when it served Kwon and his company Terraform Labs. Kwon was initially served by the SEC while in the U.S. attending a cryptocurrency conference in New York in September 2021.
Source
Join @Crypto_Publisher
Contact us @Crypto_Marcus
